Skechers U.S.A. (NYSE:SKX – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 4.080-4.180 for the period, compared to the consensus estimate of 4.120. The company issued revenue guidance of $8.9 billion-$9.0 billion, compared to the consensus revenue estimate of $8.9 billion. Skechers U.S.A. also updated its FY24 guidance to $4.08-$4.18 EPS.
Wall Street Analyst Weigh In
Several brokerages have recently commented on SKX. Stifel Nicolaus increased their target price on Skechers U.S.A. from $81.00 to $83.00 and gave the stock a buy rating in a report on Friday. Evercore ISI upped their price target on Skechers U.S.A. from $68.00 to $72.00 and gave the company an outperform rating in a research note on Friday. Barclays increased their target price on Skechers U.S.A. from $78.00 to $79.00 and gave the company an overweight rating in a research note on Friday. Wells Fargo & Company assumed coverage on Skechers U.S.A. in a research note on Wednesday, June 12th. They issued an overweight rating and a $83.00 target price on the stock. Finally, Bank of America raised Skechers U.S.A. from a neutral rating to a buy rating and increased their target price for the company from $71.00 to $87.00 in a research note on Friday, June 7th. Fourteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $76.08.
View Our Latest Stock Analysis on SKX
Skechers U.S.A. Stock Up 1.6 %
Skechers U.S.A. (NYSE:SKX – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.03). The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Skechers U.S.A. had a return on equity of 13.10% and a net margin of 6.90%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. As a group, equities analysts expect that Skechers U.S.A. will post 4.11 EPS for the current fiscal year.
Insider Buying and Selling
In related news, General Counsel Phillip Paccione sold 423 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $69.45, for a total transaction of $29,377.35. Following the completion of the transaction, the general counsel now directly owns 35,000 shares in the company, valued at $2,430,750. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 24.75% of the stock is owned by corporate insiders.
Skechers U.S.A. Company Profile
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.
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